Biden

[ShockerPrez]

The joke will be on the students with private loans though. The dumbasses will probably believe that Biden cancelled their loan, not pay it and get pummelled. And they won't know its just $10k.

Irony, their college education didn't cure their ignorance. You watch. People will ***** that they didn't know that it was only $10k and didn't include private loans.

It won't be enough for these losers.

[SB Shock]

Is this a done deal?

Unfortunately it is. College tuition just went up at least $20,000 now.

[MikeKennedyRulZ]

This.guy.is.a.complete.idiot! Congrats to any of you fools who voted for this clown.

[wufan]

Perhaps I should have held off on paying mine off. I'm 100% against this, but if it were going to happen I wouldn't have objected to getting the benefit that others would be getting as well.

Plus that would be thousands of dollars still in my bank account to go towards other things that have been put on hold because of me paying them off.

Yes…will be talking to a tax accountant if this passes.

[ShockerDropOut]

This is f****** b***s***!!!!

[Shockm]

Is this a done deal?

Will somebody or a group of people sue? I’d think the legality is highly questionable, especially since it was an executive action using the Covid emergency as the reason, and the CDC is backing away from emergency recommendations.

[Shocker Mama]

Will somebody or a group of people sue? I’d think the legality is highly questionable, especially since it was an executive action using the Covid emergency as the reason, and the CDC is backing away from emergency recommendations.

Wasn’t it just a couple of months ago that they eliminated Rule 42 (immigration) because the pandemic is over? And now we have an emergency because of COVID? That stuff sure is unpredictable!

[pinstripers]

Obviously it's not Diaper Joe making these decisions, but whether it is Obama, Klain, or whoever, they are trying to destroy the America that was the brightest, most successful, most powerful country in the history of the world.

[shox1989]

I don't feel that upset about the $10K forgiveness. I paid mine off, but I understand how hard it is and the price of tuition has just skyrocketed. I would have preferred maybe lowering everyone's interest or even taking all student loans to 0% interest or something like that to help. If President Joe had totally eliminated everyone's college debt that would have made me really mad. That is way too much, but I do kind of understand trying to do something. College debt has just gotten way too out of line and crushing too many people. It is really sad that millions of people have gotten themselves into this situation.

From a political standpoint, it seems like this move would hurt the Democrats more in the upcoming election as it does make the people who don't have student debt angry. And I have already heard some D politicians distancing themselves from this move. It seems like an odd time to make this move. The momentum had seemed to turn into the Ds favor, and this move might not only stop the momentum but turn it back into the Republican's favor.

[ShockerDropOut]

Why do we even need a congress any more. The President just does whatever the hell he wants and the dumb ass supreme court has said not is within his abilities to issue executive be orders with out any legislative oversight. If this isn't challenged and found to be illegal I just give up. We need to drain that f****** swamp. The sooner the better.

[ShockerFever]

I don't feel that upset about the $10K forgiveness. I paid mine off, but I understand how hard it is and the price of tuition has just skyrocketed. I would have preferred maybe lowering everyone's interest or even taking all student loans to 0% interest or something like that to help. If President Joe had totally eliminated everyone's college debt that would have made me really mad. That is way too much, but I do kind of understand trying to do something. College debt has just gotten way too out of line and crushing too many people. It is really sad that millions of people have gotten themselves into this situation.

From a political standpoint, it seems like this move would hurt the Democrats more in the upcoming election as it does make the people who don't have student debt angry. And I have already heard some D politicians distancing themselves from this move. It seems like an odd time to make this move. The momentum had seemed to turn into the Ds favor, and this move might not only stop the momentum but turn it back into the Republican's favor.

87% of the people out there without student loans will be paying off other people’s student loans. There is no responsibility with anything anymore on the left. Do people not know what they agree to when they sign that line and head to school? Of course they do. If the math doesn’t add up for them, then move on to something else. Don’t expect me to ****ing pay for your way to make a living. I and most everyone else sure didn’t get the luxury.

[wufan]

I don't feel that upset about the $10K forgiveness. I paid mine off, but I understand how hard it is and the price of tuition has just skyrocketed. I would have preferred maybe lowering everyone's interest or even taking all student loans to 0% interest or something like that to help. If President Joe had totally eliminated everyone's college debt that would have made me really mad. That is way too much, but I do kind of understand trying to do something. College debt has just gotten way too out of line and crushing too many people. It is really sad that millions of people have gotten themselves into this situation.

From a political standpoint, it seems like this move would hurt the Democrats more in the upcoming election as it does make the people who don't have student debt angry. And I have already heard some D politicians distancing themselves from this move. It seems like an odd time to make this move. The momentum had seemed to turn into the Ds favor, and this move might not only stop the momentum but turn it back into the Republican's favor.

The problem isn’t that forgiveness is “unfair”. The problem is that government supports huge loans for people to study whatever they want. This incentives the schools, not to increase educational benefit, but rather to increase recruiting. Ancillary amenities like luxury dorms and water parks are being added to campuses. The cost is added to tuition, and the fed approves the loan.

This is a predatory process that was unintentionally created by the government, executed by the schools, and using the bank as the tool. By only addressing the victim, this predatory cycle will continue in perpetuity, but will also add taxpayers to the victim list.

[wufan]

BTW, there is a simple solution to end this predation:

Require schools to co-sign on the student loans, and allow the students to file for bankruptcy. This would get the degree fields aligned with earnings opportunities and the students aligned with majors where they have an opportunity to be successful.

[Kung Wu]

BTW, there is a simple solution to end this predation:

Require schools to co-sign on the student loans, and allow the students to file for bankruptcy. This would get the degree fields aligned with earnings opportunities and the students aligned with majors where they have an opportunity to be successful.

Zero chance of that happening. Federal loans should be scuttled completely and loaning money for school should be left to private sector banking.

[shox1989]

Apparently Biden himself had a lot of reluctance to make this move and eventually caved. https://politicalwire.com/2022/08/26...n-forgiveness/

“President Biden had doubts. ... he said he worried that voters who’d never gone to college could resent a move to cancel huge amounts of student debt, according to four Democratic officials who spoke on the condition of anonymity to reflect private talks. Biden also said that the federal government should not be bailing out Ivy League graduates, and that his children should not qualify for help,” the Washington Postreports.

Said one senior Democrat: “He was nervous about how it would play with working-class people.”